With Chase following suite with Santa Barbara Bank and pulling out of the RAL business who will be left to meet the needs of independent tax businesses to provide RALs for their clients to keep from losing clients to the national tax firms? If you are not able to offer RALs, what can you do […]
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Are you planning to lease a tax office?
Below is a link to an article on entrepreneur.com with many tips on negotiating a lease, and it specifically refers to a lease negotiation for a tax office. During my career in the tax industry, I’ve negotiated, directly or indirectly, more than 1,000 tax office leases. I can attest to the many pitfalls and the […]
Midas Marketing Book Review
Midas Marketing by Rob Slee, Founder of Midas Nation. In his previous book, Midas Managers, Slee studied the characteristics and business practices of highly successful entrepreneurs. In Midas Marketing, he describes a new mindset to ensure business success; a set of business practices that he believes will constitute a new revolution worldwide. The new key […]
What are best sources for affordable computers for tax office work stations?
We have been buying Dell PCs from a wholesaler in Texas. For a tax preparation workstation CPU we don’t need MS Office, just Windows XP Pro with 2 Gig of RAM and the standard configuration. We pay about $250 per PC.
Helpful IRS Resources
Our key tax professionals registered for IRS e-Services as soon as they became available well over a year ago. IRS has been slow to roll out the promised services, but what is available has been helpful. We are able to manage our multiple office EFIN accounts to update office locations, etc. Given a Power of […]
Tax Industry Talk
IRS Provides Guidance on Identifying Numbers for Tax Return Preparers
July 27, 2010 – IRS Releases Proposed Regulations Related to Fees for Preparer Tax Identification Numbers The Internal Revenue Service has released proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). The proposed regulations (REG-139343-08) would establish a fee of $50, payable to the IRS, to […]
Going Paperless: Pros & Cons
Has anyone been successful in going nearly 100% paperless? If so, what is your formula for success? We are trying, but find it difficult to get our tax preparers to provide client copies on CD and many clients still insist on paper copies, especially the elderly. This transition would be easier if we didn’t have […]
What is IRS Section 7216?
Has anyone been visited by the IRS to determine compliance with IRS privacy regulations (Section 7216). The IRS privacy code requires that all taxpayer information be kept strictly confidential. Having a taxpayer’s documents with social security numbers visible on a desk in a public area (e.g. the receptionist’s desk) is a violation. Keeping client files […]